E Fund Management Co Ltd has launched China’s third gold-backed exchange-traded fund (ETF) but, like its predecessors, the product has failed to make a splash as investors in the world’s biggest bullion user show a preference for physical metal.
E Fund Gold ETF began trading on Monday and saw its market value drop by 0.6 percent on the Shenzhen Stock Exchange. According to a statement published in state media, the fund raised 500.4 million yuan ($82.42 million), which at current prices would buy it just about 2 tonnes of gold………………………………………..Full Article: Source